Stop Cash Shrink

On the latest episode of the ABA Newsbytes Podcast, Jeffrey Ball — president and CEO of Friendly Hills Bank, Whittier, Calif. — discussed several emerging issues in public policy — including banks’ role in financial innovation and protecting consumers, as well as the increasingly urgent need to address banking marijuana-related businesses.

“As fintechs look to develop different products, oftentimes it brings a significant amount of risk to the consumer,” Ball said. “That’s where bank involvement can be very significant. It’s important for banks [to] retain the relationship value, retain the protection of the payments system in how we choose to partner with some of these opportunities.”